Reinsurance News
Generali
Generali Romania partners with Intermap for flood risk assessment solution
5th September 2022
Intermap Technologies has announced Generali Romania is expanding its risk assessment capabilities by incorporating Intermap's Aquarius RMA (Aquarius) cloud-based flood risk solution into its core insurance processes. The Aquarius software solution is composed of multiple analytics and geocoding capabilities which will provide Generali Romania with a comprehensive picture of the possible ... Read the full article
Generali acquires AXA Malaysia joint ventures
2nd September 2022
Italy-headquartered insurer Generali has acquired Axa’s Malaysian operations, in line with Generali strategy to strengthen its leadership position in high potential markets. At the same time AXA also announced the completion of the sale to Generali. In the announcement, AXA revealed it sold 49.99% of its shareholding in AXA Affin General ... Read the full article
AM Best assigns positive credit ratings to Generali Hong Kong
24th August 2022
Ratings agency, AM Best has assigned Generali Hong Kong a Financial Strength Rating of “A” (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent). The outlook assigned to these ratings is stable. The ratings reflect Generali Hong Kong’s inclusion as a member of the lead rating unit of Assicurazioni Generali S.p.A. ... Read the full article
Moody’s assesses Italian insurers after downgrading government outlook
11th August 2022
Following Moody’s change in outlook on the government of Italy (Baa3) to negative from stable, the agency has taken a number of rating actions on three Italian insurers and related subsidiaries. Generali’s A3 insurance financial strength rating (IFSR) was affirmed with a stable outlook; and a similar action was taken on ... Read the full article
Generali result slips 9% on Russian investments
2nd August 2022
Italy-headquartered insurer Generali has posted a net result of €1,402 million during the second quarter of 2022, down 9.0% from the same period last year due to its Russian investments. The company reported that impairments on Russian investments totaled €138 million as the war in Ukraine continue to negatively affect financial ... Read the full article
AXA tops list of largest EU insurers ranked by GPW
1st August 2022
When ranked by gross premiums written (GPW) in 2020, AXA tops the list of the largest European insurance companies with USD 115.3 billion. The insurer also recorded USD 80 billion of capital & surplus from 2020. Based on research data from ratings agency AM Best, our directory ... Read the full article
Generali GC&C partners with Previsico on flood resilience
19th July 2022
Generali Global Corporate & Commercial (GC&C) has partnered with Previsico, a live flood alert insurtech company to “significantly” enhance UK clients’ flood emergency response readiness. Generali GC&C aims to broaden its own insurance coverage capabilities using Previsico’s technical expertise and warning solutions which provide live, actionable surface water flood warnings not ... Read the full article
Generali completes acquisition of La Médicale from Crédit Agricole Assurances
5th July 2022
Italian insurer Generali has completed its acquisition of La Médicale, the insurance subsidiary for healthcare professionals Crédit Agricole Assurances. As well as this, Generali has also completed the purchase of Predica’s death coverage portfolio, which is marketed and managed by La Médicale. following all necessary approvals from the relevant regulatory and ... Read the full article
Generali’s Europ Assistance buys nearly 75% of Gulf Assist
1st July 2022
Generali subsidiary Europ Assistance has bought a nearly three-quarter stake in Gulf Assist. In a statement, Europ Assistance said it had bought 74.6% of the firm from MAPFRE Asistencia. Gulf Assist also owns Arab Assist WLL in Jordan and has a commercial branch in Dubai. Enrique Ballesteros, previously general manager of Gulf ... Read the full article
Generali closes third green bond
30th June 2022
Italian insurer Generali has placed a €500mn Tier 2 bond due July 2032 under its new Sustainability Bond Framework. This marks Generali's third placement of a sustainability bond following two green bond deals in recent years; the first one was placed in June 2021. An amount corresponding to the net proceeds ... Read the full article
Caltagirone has left Assicurazioni Generali
30th May 2022
Assicurazioni Generali has said that non-independent director Francesco Gaetano Caltagirone has resigned from the Board with immediate effect for undisclosed reasons. It also said that Caltagirone, directly or through companies related to him, holds a stake of the share capital of Assicurazioni Generali S.p.A. equal to 9.95% and that the board ... Read the full article
Generali’s GC&C names Matthias Arnold new Head of Underwriting, Germany
24th May 2022
Generali’s property & casualty (P&C) unit – Global Corporate & Commercial (GC&C) has announced the appointment of Matthias Arnold as the new Head of Underwriting in Germany. Arnold’s appointment is effective as of July 1st, 2022. Within his new role, Arnold will further intensify the tactical development of GC&C Germany's portfolio, as ... Read the full article
Generali sees GWPs up 6.1% in Q1 2022
19th May 2022
Generali is reporting that its gross written premiums in Q1 2022 to €22.3bn, or 6.1%. However, the firm said that its net result was down to €727m in the quarter, down from €802m in the preceding year’s same quarter. This, it said, had been impacted by impairments on its Russian investments ... Read the full article
Generali makes three appointments in Italy
13th May 2022
Generali Country Italy and Global Business Lines has announced that Giulia Raffo, Manlio Lostuzzi, and Ludovic Bayard have been appointed to new roles. The firm said that Raffo was to be its new CFO, Lostuzzi was to take on the role of head of Generali Global Business Lines insurance technical coordination, ... Read the full article
Generali acquires stakes in Indian P&C joint venture
9th May 2022
Italian insurer Generali has announced that it has finished acquiring 25% of the shares of P&C business, Future General India Insurance (FGII), following regulatory approval. Following the acquisition, the firm will now hold a stake of around 74% in FGII. The deal was originally signalled in January, alongside an acquisition of 16% ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
